HOMEGROWN food giant Jollibee Foods Corp. (JFC) will be investing 45 million Singaporean dollars, or around P1.74 billion, on the buyer of Tim Ho Wan’s master franchise holder in the Asia Pacific.
In a disclosure to the stock exchange on Wednesday, May 9, JFC said its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd will invest in Titan Dining LP (Titan), a private equity fund with a fund size of SGD 100 million.
Titan has signed a binding agreement with Tim Ho Wan Pte. Ltd. (THWPL), the holder of the exclusive long-term master franchise for the Tim Ho Wan brand in Asia Pacific, excluding Hong Kong, alongside affiliate Dim Sum Pte. Ltd. which owns and operates Tim Ho Wan stores in Singapore. — Arra B. Francia